President Bola Tinubu has asked the National Assembly to approve a supplementary external borrowing plan of $20.52 billion and €1.04 billion to finance projects and programmes across multiple sectors of the Nigerian economy.
The request was conveyed in a letter read by Senate President Godswill Akpabio during plenary on Tuesday.
The proposed borrowing, if approved, would provide additional external financing for government initiatives across various sectors.
However, details of the specific projects and programmes to be financed under the proposed borrowing plan were not immediately available.
The request now places the proposed external loans before the National Assembly for consideration and approval.
Further details are expected as proceedings on the borrowing request continue.